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Why Regulatory Uncertainty Matters More For Exelon Corporation Than Capital Expansion

Exelon Corporation reported its fourth-quarter and full-year 2025 financial and operational results, demonstrating continued growth and strong industry standing amid evolving energy sector dynamics. For the year, Exelon delivered adjusted operating earnings per share of $2.77, surpassing expectations and reinforcing a consistent track record of exceeding guidance midpoints since becoming a stand-alone utility in 2021. This has resulted in a compound annual earnings growth rate of 7.4% and an 8% growth in rate base through 2025. Operational performance remained robust despite challenging weather conditions, with Exelon maintaining top-quartile reliability metrics across its utilities. The company’s focus on targeted investments and resiliency was highlighted by minimal customer outages during Winter Storm Fern, even amid peak demand in the PJM market. Customer affordability initiatives included executing a $60 million relief fund for low and moderate-income customers, advancing innovative transmission security agreements, and maintaining cost growth below inflation.